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European Commission Representation in Cyprus

EU Recovery Plan

The Recovery Plan for Europe in Cyprus

What is in the EU Recovery Plan for Europe?

The long-term EU budget, which was topped up to meet the COVID-related challenges, ensures that more than 50% of the Recovery Plan is dedicated to modernisation, through research and innovation, climate and digital transitions, and preparedness, recovery and resilience.

This forward-thinking package, in line with the European Green Deal, will fight climate change. 30% of the EU budget will be spent on this priority. It will also pay specific attention to biodiversity protection.

NextGenerationEU will provide an additional €806.9 billion, of which € €723.8 billion (in current prices) will be delivered through the Recovery and Resilience Facility (RRF) in the form of loans and grants to support the reforms and investments undertaken by EU countries. The European Commission has also implemented a new Technical Support Instrument (TSI) to provide tailor-made expertise for EU countries to design and implement reforms. Read more about the TSI and some of the reform projects being supported.

The European Semester, which is the framework to coordinate and monitor economic policy, has also been adapted as it is closely linked to the Recovery and Resilience Facility, and will ensure that reforms are an integral part of the recovery for each country.

To access funds from the Recovery and Resilience Facility, Member States provide a national recovery and resilience plan, in which at least 37% of expenditure is allocated to climate and 20% to digital investments and reforms, and which must be implemented by 2026.

More on the  recovery plan for Europe 

Next Generation EU

European Semester 2021 – an exceptional cycle 

A European Green Deal 

EU funding and tenders programmes and application procedures

The Recovery Plan for Cyprus

What’s in the Recovery Plan for Cyprus?

Delivering Cyprus’ Recovery Plan